MoneyMar 18th, 2016 | By Editorial Staff | Category: Jack Schrock's Blog
There was a time when many Americans bartered for necessary goods and services, but for the most part that idea has been greatly diminished because actual money establishes a consistent value for everything. Since most of us are paid for our work product in money, here’s my value over the years:
At age 14 I sacked groceries at the local supermarket for $5 for a 14-hour day.
Then I got a job at a filling station pumping gas for the same $5, but a much shorter day.
Throughout high school, my worth to others about doubled.
At age 21 I earned $125 per week spraying plaster, which bought me a brand new F100 Ford pickup for $1,694.
At age 30 my income rose considerably, but the cost of a new car increased even greater.
Here’s my point: It’s not how much or little we earn, it’s what our earnings will buy. Back to age 14, that $5 would buy a shopping cart full of food — enough to feed a family for a week.
Today that five bucks won’t buy a truck stop meal.
T & R is struggling to find ways to pay higher wages to attract qualified employees who will stay around for more than a month or two. Perhaps the answer is in “fringe” benefits that are valued by the employee higher than the cost to the employer.